Oceaneering Q2 revenue rises 4% to $698 mln, beats estimates
Overview
Oceaneering Q2 2025 revenue up 4% to $698 mln, beating analyst expectations
Net income rose 56% to $54.4 mln, driven by contract awards and improved margins
Co repurchased 471,759 shares for $10 mln, reflecting strategic cash flow use
Outlook
Oceaneering forecasts Q3 EBITDA between $100 mln and $110 mln
Company expects full-year adjusted EBITDA of $390 mln to $420 mln
Oceaneering sees mid-single digit growth in full-year revenue
Company anticipates SSR revenue to grow in mid-single digit range
Result Drivers
ADTECH CONTRACTS - Recent contract awards in Aerospace and Defense Technologies contributed to revenue and income growth, per CEO Rod Larson
SERVICE MIX - Favorable service mix and strong execution in Offshore Projects Group boosted operating income by 64%
HIGHER MARGIN BACKLOG - Conversion of higher margin backlog in Manufactured Products led to a 31% increase in operating income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $698 mln | $684.10 mln (3 Analysts) |
Q2 Net Income | $54.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for Oceaneering International Inc is $20.50, about 9.4% below its July 23 closing price of $22.43
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release:
